Hot! U.S. Considering Managing Retirement Accounts

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The U.S. Consumer Financial Protection Bureau is exploring whether or not they can help manage consumer investment accounts, according to Bloomberg. Americans as a whole have invested $19.4 trillion in retirement assets. The Bureau is considering getting involved in the savings accounts because of concerns that Americans might fall prey to financial scams.

Does the CFPB have jurisdiction to do so? Richard Cordray, the bureau’s director, said he’s investigating.

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“That’s one of the things we’ve been exploring and are interested in, in terms of whether and what authority we have,” said Cordray.

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